WEST VIRGINIA CODE

WVC 7 - 11 B- 8
§7-11B-8. Project plan - approval.
(a) The county commission or municipality creating the
district shall cause the preparation of a project plan for each
development or redevelopment district and the project plan shall be
adopted by order of the county commission, or ordinance adopted by
the governing body of the municipality, after it is approved by the
executive director of the development office. This process shall
conform to the procedures set forth in this section.

(b) Each project plan shall include:

(1) A statement listing the kind, number and location of all
proposed public works or other improvements within the district and
on land outside but contiguous to the district;

(2) A cost-benefit analysis showing the economic impact of the
plan on each levying body that is at least partially within the
boundaries of the development or redevelopment district. This
analysis shall show the impact on the economy if the project is not
built and is built pursuant to the development or redevelopment
plan under consideration. The cost-benefit analysis shall include
a fiscal impact study on every affected levying body and sufficient
information from the developer for the agency, if any proposing the
plan, the county commission be asked to approve the project and the
development office to evaluate whether the project as proposed is
financially feasible;

(3) An economic feasibility study;

(4) A detailed list of estimated project costs;

(5) A description of the methods of financing all estimated
project costs, including the issuance of tax increment obligations
and the time when the costs or monetary obligations related thereto
are to be incurred;

(6) A certification by the county assessor of the base
assessed value of real and tangible personal property having a tax
situs in a development or redevelopment district: Provided, That
if such certification is made during the months of January or
February of each year, the county assessor may certify an estimated
base assessed value of real and tangible personal property having
a tax situs in a development or redevelopment district: Provided,
however, That prior to issuance of tax increment obligations, the
county assessor shall certify a final base assessed value for the
estimated base assessed value permitted by this section;

(7) The type and amount of any other revenues that are
expected to be deposited to the tax increment financing fund of the
development or redevelopment district;

(8) A map showing existing uses and conditions of real
property in the development or redevelopment district;

(9) A map of proposed improvements and uses in the district;

(10) Proposed changes of zoning ordinances, if any;

(11) Appropriate cross-references to any master plan, map,
building codes and municipal ordinances or county commission orders
affected by the project plan;

(12) A list of estimated nonproject costs;

(13) A statement of the proposed method for the relocation of
any persons, businesses or organizations to be displaced;

(14) A certificate from the executive director of the workers'
compensation commission, the commissioner of the bureau of
employment programs and the state tax commissioner that the project
developer is in good standing with the workers' compensation
commission, the bureau of employment programs and the state tax
division; and

(15) A certificate from the sheriff of the county or counties
in which the development or redevelopment district is located that
the project developer is not delinquent on payment of any real and
personal property taxes in such county.

(c) If the project plan is to include tax increment financing,
the tax increment financing portion of the plan shall set forth:

(1) The amount of indebtedness to be incurred pursuant to this
article;

(2) An estimate of the tax increment to be generated as a
result of the project;

(3) The method for calculating the tax increment, which shall
be in conformance with the provisions of this article, together
with any provision for adjustment of the method of calculation;

(4) Any other revenues, such as payment in lieu of tax
revenues, to be used to secure the tax increment financing; and

(5) Any other provisions as may be deemed necessary in order
to carry out any tax increment financing to be used for the development or redevelopment project.

(d) If less than all of the tax increment is to be used to
fund a development or redevelopment project or to pay project costs
or retire tax increment financing, the project plan shall set forth
the portion of the tax increment to be deposited in the tax
increment financing fund of the development or redevelopment
district and provide for the distribution of the remaining portion
of the tax increment to the levying bodies in whose jurisdiction
the district lies.

(e) The county commission or governing body of the
municipality that established the tax increment financing fund
shall hold a public hearing at which interested parties shall be
afforded a reasonable opportunity to express their views on the
proposed project plan being considered by the county commission or
the governing body of the municipality.

(1) Notice of the hearing shall be published as a Class II
legal advertisement in accordance with section two, article three,
chapter fifty-nine of this code.

(2) Prior to this publication, a copy of the notice shall be
sent by first-class mail to the chief executive officer of all
other levying bodies having the power to levy taxes on property
located within the proposed development or redevelopment district.

(f) Approval by the county commission or the governing body of
a municipality of an initial development or redevelopment project
plan must be within one year after the date of the county assessor's certification required by subdivision (6), subsection
(b) of this section: Provided, That additional development or
redevelopment project plans may be approved by the county
commission or the governing body of a municipality in subsequent
years, so long as the development or redevelopment district
continues to exist. The approval shall be by order of the county
commission or ordinance of the municipality, which shall contain a
finding that the plan is economically feasible.

Note: WV Code updated with legislation passed through the 2016 Regular Session
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